Vernal City Council Meeting Agenda Packet January 21, 2026
$3.4 Million Funding Awarded for Roadway Rehab Project
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Description
The Permanent Community Impact Fund Board awarded Vernal City a $1.7M grant and $1.7M loan (10 years at 0.5%) for major roadway rehabilitation, covering pavement sealing, skid resistance, and street life extension.
Contract Details
Contract Amount
$1,700,000 grant and $1,700,000 loan ($3.4 million project)
Vendor
PERMANENT COMMUNITY IMPACT FUND BOARD
Agency
City of Vernal, UT
Contract Type
FINANCIAL_SERVICES
Document Date
January 21, 2026
Contract Term
Loan matures in 10 years, payments due February 1, 2028–2037, 0.5% interest
Renewal Date
2037-02-01
Renewal Info
10-year low-interest loan, with payment schedule and provisions for early payoff. Renewal not applicable; loan matures in 10 years.
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